https://www.taxtmi.com/caselaws?id=250440 The Court set aside the notice issued under Section 148 of the Income Tax Act for reopening the assessment for A.Y. 2007-08, as it found no reasonable belief that income had escaped assessment. The Court noted the lack of new valid reasons for reopening and rejected claims of the assessee being engaged solely in share trading. The petition was allowed, and the order disposing of objections was set aside with no costs imposed. en-us Wed, 16 Jul 2014 00:00:00 +0530 Fri, 10 Oct 2014 16:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250440 The Court set aside the notice issued under Section 148 of the Income Tax Act for reopening the assessment for A.Y. 2007-08, as it found no reasonable belief that income had escaped assessment. The Court noted the lack of new valid reasons for reopening and rejected claims of the assessee being engaged solely in share trading. The petition was allowed, and the order disposing of objections was set aside with no costs imposed. Case-Laws Income Tax Wed, 16 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250440